Can I adjust this amount on my tax return? Cash app payments that shouldn't be reported on 1099 k.

[KrisD15]

Can you give us a little more information? 

If you need to report a 1099-K, but then also need to subtract some of the income reported on that 1099-K (OTHER THAN EXPENSES) for example if the income is also reported on ANOTHER Form 1099, or they were personal transfers,  you can make a negative entry with an explanation 

Wages & Income

Less Common Income

Miscellaneous Income, 1099-A, 1099-C   START or UPDATE

last option "Other reportable income"   START or UPDATE

Complete the interview 

Use a description that will be clear for the IRS to understand

Enter the amount as a NEGATIVE ( put a minus sign in from) 

This will be on Schedule 1 to offset the excess reported on the 1099-k

Be sure you have documentation to support this subtraction and keep everything with your tax file